AAA Updates Total Cost of Ownership Estimates
The latest edition of Automobile Club of America’s Your Driving Cost has been published. There’s evidence to show that the largest cost associated with the purchase of a new vehicle is depreciation. For some types of vehicles, depreciation can amount to nearly 40% of the ownership costs, according to AAA.
Even though full size pickup trucks continue to perform well in terms of retaining value, annual cost is expected to be $10,215, or $.468 per mile, for an average retail consumer.
One component of the overall cost, Maintenance, averaged $1,186, or about $.08 for every mile driven.
Further analysis showed that appetite has moved from sedans to SUVs
Companies who manage their vehicles may miss aspects such as depreciation when assessing true cost of owning and operating their vehicles. Learn more about why local, hands-on account management for fleet vehicle makes sense for fleets of all sizes.
Notes: All dollar values are shown in USD.